Index Trends & Stocks In Action For 15th April 2013
Shailendra Lotlikar / 15 Apr 2013
The markets are reeling under the pressure of the poor guidance and gloomy picture painted by Infosys on Friday. Global cues too are looking very pessimistic and tomorrow again will see some big numbers coming in. So, here is what you can expect the frontline Indices to do today along with some stocks that are likely to remain in action.
The Indian markets collapsed on Friday, led by a sell-off in Infosys. The stock declined about 22% after the company’s revenue forecast disappointed traders and investors. This overshadowed the better than expected industrial production figures. The nifty declined 65 points to end at 5528 and has given a very weak closing on the weekly charts. It has closed below its crucial support as defined by the Bollinger Band. Key momentum oscillators on daily and weekly charts continue to favor the bears. Going ahead the immediate hurdle for the index stands at 5550-5570, whereas, key support for the index comes in at 5480 and 5450.
L&T will buy a 50% stake in L&T-Komatsu (LTK), a Komatsu Asia and Pacific Pte Ltd company. After this transaction, LTK will become a fully owned subsidiary of L&T which will give it a leadership position in the construction and mining segment. Some positive movement is expected in the shares of L&T today following this development.
While software stocks will be watched rather closely, here is something that could be mildly positive in the light of what has happened to Infosys on Friday. TCS has bagged an order worth RS 1400 crore from India post for computerizing counter operations. The project has been divided into two parts for implementation and five years of maintenance. TCS is likely to remain in focus following this development. But is too little to compensate for the gloom that surround the IT pack?
Gitanjali Gems intends to set up 550 shops in India and abroad this year. it is looking at expanding in the domestic market through the franchisee route in Tier II and III cities by investing close to Rs 50 crore for this purpose. The news is likely to bring the stock in focus in today’s trading session.
Greenply Industries has launched its exclusive brand shop Green Design Studio in Hyderabad, the 15th such store in the country. The stock has been in good demand and touched Rs 449 last week. We expect the positive momentum to continue as the company gets closer to its customers through these design studios.
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